Additional Savings to EV Drivers Enabled by Increased Recurring Revenues From JuiceNet Platform Licensing and Utility Grid Services Via Electric Utility Load Aggregation
SAN CARLOS, California, Aug. 29, 2017 /PRNewswire/ --eMotorWerks, the creator of JuiceNet, the leading internet of things electric vehicle charging platform, is reducing retail prices for the newest version of its best-selling smart charging stations by $50 a unit. The reduction of upfront pricing for JuiceNet-compatible charging equipment is stimulated by the scale up of flexible electrical load capacity on the JuiceNet platform, the monetization of that load for utility demand response, and manufacturing cost reductions. The company's fleet of over 22,000 stations, which corresponds to over 200 MW of peak flexible load, provides a robust installed base for third-party applications and to balance renewable generation and provide other energy services to electric grids.
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"Our goal has always been to enable effective integration of electric vehicles into electric grids around the world and provide grid balancing services to grid operators, utilities, and even large commercial electricity consumers," said Val Miftakhov, CEO of eMotorWerks. "The strong adoption of our platform we've seen from EV drivers and utility partners this year is enabling us to further accelerate our progress. We're seeing larger and more predictable revenue streams from that side of our business, and it's only right that we pass some savings back to our customers in the form of upfront pricing reductions and discounts for energy programs enrollment. We firmly believe that our approach to EV charging will accelerate both EV adoption and penetration of renewable generation on our grids."
The eMotorWerks growing software and grid services business is enabled by its award-winning JuiceNet platform, which employs automated, multi-tiered control algorithms and load balancing to allow EV drivers the flexibility to charge their cars on the cleanest and least expensive energy available. At the same time, the JuiceNet platform gives utilities improved real-time visibility of major grid parameters and control of EV charging demand. With this visibility, eMotorWerks helps grid operators and utilities improve load distribution and grid stability while minimizing the need for expensive generation or transmission & distribution infrastructure upgrades. Additionally, these grid services give utilities the option to keep undesirable, fossil fuel generation sources dormant and meet peak load requirements through demand response.
In anticipation for the predicted growth of EV sales in coming years, eMotorWerks facilitated the rollout of JuiceNet enabled charging stations to multiple utilities specifically for their grid advantages, including Pacific Gas and Electric (PG&E), Sonoma Clean Power (one of the leading Community Choice Aggregators in California), as well as automotive OEM provider Aerovironment and others.
"With up to 60 million EVs on the road globally by 2040, the intelligent management of EV charging loads is critical to maintaining grid reliability," said Geof Syphers, CEO of Sonoma Clean Power. "Since utilities like ours have long planning horizons, partnering with eMotorWerks to deploy intelligent charging stations in our territory today puts us ahead of the curve for managing current and future load demands, while we continue to increase our local generation of renewable energy resources."
In addition to the increasing number of energy service deployments, eMotorWerks is delivering strong results from its Beta release of its JuiceNet platform API. The API allows third-party developers to quickly develop and deploy sophisticated EV charging applications on top of the largest smart EV charging network in the United States. Some recent examples of such successful third-party developments include a blockchain-based EV charger sharing application by Share&Charge (Division ofInnogy), an ad-supported free EV charging application by Volta, a smart EV charging application by Webasto, and the open-payment commercial EV charging application by Nayax.
New pricing for the UL-certified JuiceBox Pro 40 and JuiceBox Pro 40 Lite are $599 and $549, respectively. In addition, eMotorWerks is offering a $50 discount for California customers signing up for its JuicePoints rewards program, allowing EV drivers to charge their vehicles in ways that maximize the use of renewable energy and minimize their contribution to grid congestion. The JuicePoints rewards program also provides ongoing cash rewards to participating EV drivers, depending on their levels of participation.
Founded in 2010, and based in the San Francisco Bay Area, eMotorWerks is revolutionizing the electric vehicle (EV) charging market with its JuiceNet-enabled smart grid EV charging solutions. JuiceNet enabled devices, such as the company's connected, high-power JuiceBox charging stations, maximize charging efficiency and speed while providing EV owners intuitive control and visibility. By shifting when and how much electricity JuiceNet-enabled stations draw from the grid, eMotorWerks helps utilities and grid operators reduce electricity costs, ease grid congestion, and maximize the use of solar and wind power. eMotorWerks contracts with grid operators for those services and shares back a portion of proceeds to EV drivers via upfront purchase discounts and ongoing rewards for smart-grid charging. For more information on eMotorWerks, please visit www.emotorwerks.com. Follow us on Twitter (@eMotorWerks), on LinkedIn (https://www.linkedin.com/company/electric-motor-werks-inc-) and Facebook (https://www.facebook.com/eMotorWerks).